No Amounts Due. The Executive acknowledges that no payments or benefits whatsoever shall become due hereunder in the absence of a Change of Control.
No Amounts Due. The Officer acknowledges that no payments or benefits whatsoever shall become due hereunder in the absence of a Change of Control.
No Amounts Due. No amounts are due to or in respect of any former officer or employee or consultant and there are no outstanding arrears of salary, wages, fees, holiday pay or other remuneration.
No Amounts Due. There are no amounts owed by Assignor to any lessee or sublessee under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby; provided, however, that Assignor makes no representations as to the existence of any reimbursement obligation owed to Trans Maldivian Airways Private Limited ("TMA") out of non-refundable reserve payments for maintenance performed by TMA of which Assignor has not been informed or notified. Assignor has received no information concerning, or notice of, the existence of any such maintenance or reimbursement obligation as of the date hereof.
No Amounts Due. Executive acknowledges that other than reimbursement for some travel, lodging, and other normal business expenses recently incurred in accordance with Company policies and practices, there are no sums due and owing him from the Company.
No Amounts Due. There are no amounts owed by Assignor to any lessee or sublessee under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby; provided, however, that Assignor makes no representations as to the existence of any reimbursement obligation owed to Loganair Limited ("Loganair") out of non-refundable reserve payments for maintenance performed by Loganair of which Assignor has not been informed or notified. Assignor has received no information concerning, or notice of, the existence of any such maintenance or reimbursement obligation as of the date hereof.
No Amounts Due. There are no amounts owed by Assignor to any party under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby.
No Amounts Due. 39 5.23 Servicing.............................................................................................. 39 5.24 Use of Name............................................................................................ 39 5.25 Limitation on Debt/Further Encumbrances................................................................ 39 5.26 Restrictions on Transfers.............................................................................. 40 5.27 Transactions with Affiliates........................................................................... 40
No Amounts Due. The Company shall use its best efforts to cause the Applicable Timeshare Owners' Association to deliver a statement to SPV and TFC at the end of each calendar year, commencing in the present calendar year and continuing throughout the term of the transactions contemplated hereunder, indicating that no amounts are due and payable to the Applicable Timeshare Owners' Association from the Company, the Subject Persons or any Affiliate of the Company and that all taxes and insurance premiums payable by the Applicable Timeshare Owners' Association (or Silverleaf Club on behalf of the Applicable Timeshare Owners' Association) have been paid when due. The Company hereby represents and warrants that as of the Closing Date, no amounts are due and payable to the Applicable Timeshare Owners' Association from the Company, the Subject Persons, or any Affiliate of the Company. The Company agrees to submit annually to SPV and TFC, within thirty (30) days after it is available, the proposed annual maintenance and operating budget of the Silverleaf Club (and, if any Applicable Timeshare Owners' Association establishes an annual maintenance and operating budget, such Applicable Timeshare Owners' Association) certified by such Person's manager.
No Amounts Due. There are no amounts owed by Assignor to any lessee or sublessee under the Relevant Agreements and no such amount shall be owed by Assignee to any lessee or sublessee as a result of the consummation of the transactions contemplated hereby; provided, however, that Assignor makes no representations as to the existence of any reimbursement obligation owed to Caribbean Star Airlines Limited ("CSAL") out of non-refundable reserve payments for maintenance performed by CSAL of which Assignor has not been informed or notified. Assignor has received no information concerning, or notice of, the existence of any such maintenance or reimbursement obligation as of the date hereof.
